I run with my Clip all the time - I clip it to my Ironman watch band (a bit sideways) and run the headphone cord up my sleeve and out the neck of my shirt/jersey. I've been running for 25+ years and have had numerous DAPs over the last 9 and my Clip is the first to make the cut. It's so light, balance is never an issue and armswing doesn't impact the clip's performance.

Great Idea and even if you didn't have the watch you could just use an wrist sweatband instead and clip it to that.